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English Auction
A bidding process where participants publicly offer progressively higher prices until the highest bidder wins, typically used for selling goods or services.
Rational Self-Interest
The principle that an individual's actions are motivated by self-gain and the efficient pursuit of their own personal goals, assuming logical and informed decision-making.
Values
The importance, worth, or usefulness of something, often determined by personal principles or market conditions.
Bid
An offer of a certain price for something, especially in contexts like auctions or financial markets, where it reflects the amount a buyer is willing to pay.
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